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The numbers: U.S. consumer prices leaped 0.6% in August — the biggest increase in 14 months — largely because of higher oil prices.
If energy and food are set aside, so-called core inflation rose a smaller 0.3% in August, the consumer price index showed.
That was a tick above Wall Street expectations, however, and cast a negative tone over financial markets.
Read MarketWatch’s full coverage.
Market reaction: The Dow Jones Industrial Average
DJIA,
and S&P 500
SPX,
were set to open lower in Wednesday trades.
The yield on the 10-year Treasury note
TMUBMUSD10Y,
rose to 4.30% because of the elevated core CPI reading.
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